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Question : whats the difference between true credit.com credit scores and myfico.com?
I went online to transunion (truecredit) and my equifax score was 650...then I went to myfico and it said 621. Which one is correct? I did both in the same day and were no changes in my report...Am I waisting my money?now keep in mind now that i said i checked only my equifax score from 2 different companies and the difference was about 20 points each...Im confused
- asked by mememe
All Answers: Answer #1u can get up to one free credit report a year through equifax... just so u know... its part ofsome law since the whole idenity theft
- answered by the_question_girl
Answer #2
Your not wasting your money one is a newer versionand one is older but more business is using thenewer one than the older one and some people didntunderstand it either. I would say they are bothright but If you apply for a loan and they areusing the new version then the 621 would becorrect and if the company is using the older onethe 650 would be right
- answered by key2me12
Answer #3
There are no real differences from one to theother. All these companies do for you is requestcredit information from the 3 main credit bureaus.You are entitled to 1 free credit roport from eachbureau per year. The three credit bureaus areTransUnion, Equifax, and Experian. All of thesecredit agencies hold your credit score (fico) ofyour credit worth. Most auto loan agencies useEquifax while mortgage companies use the mid ficoscores. Each agency may have big differences alldepending on which lender/creditor report to whichagency. If you need additional help just let meknow. The credit game is bigger then most realize.
- answered by j_burrows1
Answer #4
I can tell you it will never make sense, and noone can ever explain why they differ. I can tellyou I veiw credit reports pulled for my clientsfor mortgage lending (FNMA REPORT) purposes. Ideliver the Credit score disclosure to myborrowers and many have had a MY FICO or otherreport less then 30 days old. I have seen 100ptdifferences in just a matter of days, but theexact information, balances, and number ofaccounts are reporting. Its not the 1 score thatmatters, you may have 1 equifax score, and theother place used a Transunion score, or a Experianscore. What really matters is- for a great carloan you need 700- for an excellent home loan youneed 720, and for new revolving types of credit itis mainly decided on you repayment of theestablished accounts you have.To improve your fico-1) pay your bills on time2) keep 60% of youspending limit available ( 1000 limit keep balancearound 400)3) Keep older accounts open even with 0balance4) limit the new accounts you apply for5)pay attention to the factors they give for yourcredit, some can never be fixed.I have an 80 yearold couple whose credit factor #1 is time accountshave been established. The factors are in orderof why you score isnt perfect. The couple neverhad many credit cards, but they have 25 years ofmortgage loans. It means they opened accountsafter not having many, so opening new credit yearsago was the last factor that lowered the score. It doesnt mean its lowering it today, just that itwas the last bad factor. If you arent on the vergeof 700 and buying a car, or 720 and buying a homeyou wont need to really worry about your fico. Find the Factors of your reported score and workfrom those to improve. Its the factors reportedthat are bringing your score down and will remainumtil a new factor is reported. Get a PROVIDIANcredit cars ASAP, they show you what your fico waseach month you have an account with them. Itsself explanatory to see the flucuations ( opened anew credit card score goes down- payoff a creditcard score goes up)
- answered by Jacque w
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